Goods bought from other countries for domestic use.
What are imports?
100
The price of one nations currency in terms of another nations currency.
What is an exchange rate?
100
Long distance communication, usually electronic, using communications satellites and fiber-optic cables.
What is telecommunication?
100
Nations with relatively high standards of living and economies based more on industry than on agriculture.
What are Developed Nations?
100
An economic system driven by internet commerce.
What is Cybernomics?
200
Goods sold to other countries.
What are exports?
200
Markets dealing with buying and selling foreign currency for businesses that want to import goods from other countries.
What are foreign exchange markets?
200
Interdependency among countries of the world, especially within financial markets and telecommunications.
What is Global Integration?
200
Nation with little industrial development and relatively low standards of living.
What is a Developing Nation?
200
A worldwide system of interconnected computers that store, process, and share information.
What is the internet?
300
The concept that a nation should produce and export a limited assortment of goods for which it is particularly suited in order to remain profitable.
What is specialization?
300
The lowering of a currency's value in relation to other currencies by government order.
What is devaluation?
300
The purchase of foreigners of real estate and businesses in another country.
What are Direct Foreign Investments?
300
Death rate of infants that die within the first year of life.
What is the infant mortality rate?
300
Electronic commerce on the Internet.
What is e-commerce?
400
The ability of one country to produce a product more efficiently.
What is Absolute advantage?
400
The fall in the price of currency through the action of supply and demand.
What is depreciation?
400
Firms that do business and have offices or factories in many countries.
What are multinationals?
400
Placement of industries under government ownership.
What is Nationalization?
400
Development of new products, systems, or processes that have a wide-range effects.
What is Innovation?
500
The ability of a country to produce a product at a lower opportunity cost than another country.
What is comparative advantage?
500
People who argue for trade restrictions to protect domestic industries.
Who are protectionists?
500
Branches of multinational firms.
What are foreign affiliates?
500
situations in which less developed countries with low per capita incomes cannot save and invest enough to achieve acceptable rates of economic grow an are thus trapped.
What is the Vicious Cycle of Poverty?
500
The period when telecommunications and computer technology gave information significant economic value.